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Financial Maths, SMB-010 MC

$6000 is invested in an account that earns simple interest at the rate of 3.5% per annum.

The total interest earned in the first four years is

  1. $70
  2. $84
  3. $210
  4. $840
Show Answers Only

`D`

Show Worked Solution

`P = 6000,\ \ r = 3.5text(%),\ \ n = 4`

`I` `= Prn`
  `= 6000 xx 3.5/100 xx 4`
  `= 840`

 
`=>  D`

Filed Under: Simple Interest Tagged With: num-title-ct-corea, smc-4332-10-Find interest

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